The PM and the new boss at the Treasury face an even trickier task than their predecessors. They need a good plan, and we have one, says Alfie Sirling of the Joseph Rowntree Foundation

Bold action on housing, energy, social security and insecure work can return incomes to growth for low- and middle-income households, more than offsetting price shocks from Middle East conflict.

Blunt cuts to social security don’t work — we need to tackle the root causes of need. Hitting 80% employment would reduce Universal Credit spend by £10 billion.

Joseph Rowntree Foundation finds problem is ‘deeper and more damaging than at any point in the last 30 years’

Historical and forecast benefit expenditure and caseload data usually consistent with the annual spring and autumn Budgets or Statements.

Prices have been rising more slowly in the twelve months to October.

Average incomes are expected to fall by £550 over this parliament, meaning the Government risks having the worst living standards performance of any parliament on record.